Journal of the 59 Banking Supervisor - of the - ASBA
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October – December, 2019
Journal of
of the
the
Banking Supervisor
59
Promoting Best Practices for Banking SupervisionTable of Contents
Banking Regulation and Supervision
• Global Fintech Regulation and Supervision Practices (ASBA Publication)
• Governance Arrangements for Critical OTC Derivatives Data Elements
(other than UTI and UPI)
• Best Practices on Beneficial Ownership for Legal Persons
• FATF Methodology for Assessing Compliance with the FATF Recommendations and the
Effectiveness of AML/CFT Systems (Update 2019)
• Seventeenth Progress Report on Adoption of the Basel Regulatory Framework
• 2019 Resolution Report: “Mind the Gap”
Market Outlooks and Reviews
• Global Financial Stability Report: Lower for Longer
• Global Microscope 2019 The Enabling Environment for Financial Inclusion
• Regional Economic Outlook: Western Hemisphere. Stunted by Uncertainty
• 2020 Banking and Capital Markets Outlook: Fortifying the Core for the Next Wave of
Disruption
• Retail Banking 2020: Evolution or Revolution?
Research and Analysis
Climate Related Risks
i. Climate Risk and Financial Systems of Latin America: Regulatory, Supervisory and
Industry Practices in the Region and Beyond
ii. Financing Climate Futures : Rethinking Infrastructure
iii. Macroeconomic and Financial Policies for Climate Change Mitigation:
A Review of the Literature
iv. Long-Term Macroeconomic Effects of Climate Change: A Cross-Country Analysis
Regtech and Suptech. Technology for Authorities
i. The Use of Big Data Analytics and Artificial Intelligence in Central Banking
ii. The Suptech Generations
Regulation and Supervision of Fintech
i. Regulating Alternative Finance: Results From A Global Regulatory Survey
ii. Embedded Supervision: How to Build Regulation into Blockchain Finance
Tel. +52 (55) 5662 0085,
@ASBAnews asbasupervision.com asba@asbasupervision.orgTable of Contents
Research and Analysis
Cyber Risks and Data
i. Cybersecurity Risk Supervision
ii. Varying Shades of Red: How Red Team Testing Frameworks Can Enhance the
Cyber Resilience of Financial Institutions.
iii. Cyber-Risk Oversight Handbook for Corporate Boards
Financial Inclusion and Consumer Protection
i. Core Competencies Framework on Financial Literacy for Investors
ii. Smarter Financial Education Key Lessons from Behavioural Insights for Financial
Literacy Initiatives
iii. Good Practice Guide on Consumer Data
Contributions and News
• Banco Central de Argentina, Argentina • Superintendencia de Bancos, Ecuador
• Central Bank of Barbados, Barbados • Superintendencia de Bancos, Guatemala
• Banco Central Do Brasil, Brazil • Bank of Guyana, Guyana
• Comisión Nacional Bancaria y de Valores, • Superintendencia de Bancos de Panamá
Mexico
• Superintendencia de Banca Seguros y AFP,
• Comisión Nacional para la Protección y Peru
Defensa de los Usuarios de Servicios
• Banco Central del Uruguay, Uruguay
Financieros, Mexico
ASBA Events
Tel. +52 (55) 5662 0085,
@ASBAnews asbasupervision.com asba@asbasupervision.orgBanking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Banking Regulation and Supervision
Global Fintech Regulation and Supervision Practices
(ASBA Publication)
Association of Supervisors of
https://bit.ly/2QJxsLx
Banks of the Americas (ASBA)
and IDB-LAB
The purpose of this document is to compile and analyze global practices regarding
the regulation and supervision of Fintech business models, products and services. To
December, 2019
that end, it reviews the current regulatory and supervisory practices of financial
authorities, building upon a survey distributed among ASBA members regarding
Fintech-related regulations and approaches and other relevant documents.
A total of 56 jurisdictions on all five continents were examined, including 11 within
the ASBA membership.
Governance Arrangements for Critical OTC Derivatives Data
Bank for International
Settlements (BIS) and
Elements (other than UTI and UPI)
International Organization of
Securities Commissions https://bit.ly/2QtqZ8E
(IOSCO)
In this report, the CPMI and IOSCO set out Governance Arrangements for the critical
Committee on Payments and
Market Infrastructures
data elements other than the UTI and UPI (CDE Governance Arrangements). The
CPMI and IOSCO acknowledge that CDE need to be implemented globally but also
October, 2019
that the definitions, allowable values and also possibly the formats of CDE will
need maintenance and governance in order to ensure that they remain up-to-date
and evolve to reflect and support market practices and Authorities’ needs.
Best Practices on Beneficial Ownership for Legal Persons
https://bit.ly/2FBI1eJ
Financial Action Task Force
(FAFT) Anonymous shell companies are one of the most widely used methods for laundering
October, 2019 the proceeds of crime and corruption. New FATF Best Practices help countries get
rid of the cloak of secrecy concerning the ultimate owner of a company,
foundation, association or any other legal person, and prevent their misuse for
crime and terrorism.
asbasupervision.com
4Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
FATF Methodology for Assessing Compliance with the FATF
Recommendations and the Effectiveness of AML/CFT Systems
Financial Action Task Force https://bit.ly/2Qp5je1
(FATF)
October, 2019 This document refers to the 2013 FATF Methodology. The FATF conducts mutual
evaluations of its members’ levels of implementation of the FATF
Recommendations on an ongoing basis. These are peer reviews, where members
from different countries assess another country.
The FATF Methodology for assessing compliance with the FATF Recommendations
and the effectiveness of AML/CFT systems sets out the evaluation process.
Seventeenth Progress Report on Adoption of the Basel Regulatory
Bank for International
Settlements (BIS) Framework
Basel Committee on Banking
Supervision https://bit.ly/39HlpXP
October, 2019 This report sets out the adoption status of Basel III standards for each of the BCBS
member jurisdiction as of end-September 2019. It updates the Committee’s
previous progress reports, which have been published on a semiannual basis since
October 2011.
2019 Resolution Report: “Mind the Gap”
Financial Stability Board https://bit.ly/35nRAYO
(FSB)
November, 2019 This resolution report provides an update on progress in implementing policy
measures to enhance the resolvability of systemically important financial
institutions and sets out plans for further work. The report concludes that
authorities and firms need to be mindful of any remaining gaps as they work
towards making resolution strategies and plans operational in all sectors.
asbasupervision.com
5Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Market Outlooks and Reviews
Global Financial Stability Report: Lower for Longer
https://bit.ly/2Qmwg1S
International Monetary Fund
(IMF) The 2019 Global Financial Stability Report identifies the current key vulnerabilities
October, 2019 in the global financial system. Besides, the report proposes that policymakers
mitigate these risks through (i) stricter supervisory and macroprudential oversight
of firms, (ii) strengthened oversight and disclosure for institutional investors, and
(iii) the implementation of prudent sovereign debt management practices and
frameworks for emerging and frontier market economies.
Global Microscope 2019 The Enabling Environment for
Financial Inclusion
The Economist
https://bit.ly/2QMnfy9
October, 2019
The 2019 Global Microscope analyzes the regulation and policies used by
governments and regulatory institutions of 55 countries around the world to
increase financial inclusion among their populations. The index focuses on
regulation, political strategies and infrastructure. In addition, the document
incorporates a specific gender perspective to better understand how financial
inclusion policies affect women differently and how governments and regulators
can reduce the gender gap in financial inclusion.
Regional Economic Outlook: Western Hemisphere.
Stunted by Uncertainty
International Monetary Fund
https://bit.ly/39DP58l
(IMF)
The document describes the growth context that Latin America and the Caribbean
October, 2019
(LAC) is going through. In general, the LAC region has decelerated from 2018 to
2019, although a rebound is presumed by 2020. This deceleration is due to external
factors that continue to damage the region's perspectives and among them, (i) the
slow world growth, (ii) moderate prices of commodities and the (iii) volatile capital
flows. For its part, the report mentions the great uncertainty that exists around
economic policies in some of the large countries that slow down growth further. To
return to the progress, the document mentions that LAC economies will have to
resort to internal sources of growth and restore the maneuvering margins of
economic policies.
asbasupervision.com
6Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
2020 Banking and Capital Markets Outlook: Fortifying the Core for
the Next Wave of Disruption
Deloitte
https://bit.ly/2QGKg5y
2019
This document mentions the effects that technological innovation is having and will
have on the banking industry. In general, the document shows that technology is
making banking activities more open, transparent, real-time, intelligent,
personalized, secure, integrated and deeply parallel in the lives of consumers and
the operations of institutional clients. However, the document emphasizes that the
entry of disruptive models should not change the main role of banks: matching
demand with the supply of capital. Banks should go hand in hand with these
technologies, focusing on strengthening: (i) technological infrastructure; (ii) their
data management, (iii) human capital and (iv) risk management.
Retail Banking 2020: Evolution or Revolution?
https://pwc.to/36u2uOf
PwC Global
2019 Powerful forces are reshaping the banking industry, creating an imperative for
change. Banks need to choose what posture they want to adopt - to lead the
change, to follow fast, or to manage for the present. Whatever their chosen
strategy, leading banks will need to balance execution against 6 critical priorities
and have a clear sense of the posture they wish to adopt. However, each of them is
important, and success will come from a balanced execution across these priorities
and a balance of tactical initiatives and longer-term programs, all coming together
as an integrated whole.
asbasupervision.com
7Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Climate Related Risks
Climate Risk and Financial Systems of Latin America: Regulatory,
Inter-American Development
Supervisory and Industry Practices in the Region and Beyond
Bank (IADB)
https://bit.ly/2MTxgYY
Frisari, Giovanni Leo; Monnin,
Pierre; Nakano, Chiemi; The Inter-American Development Bank (IDB) launched a research program on the
Cárdenas, Víctor; Gallardo,
Matías
relationship between climate change and financial markets in the LAC region,
beginning a dialogue with several regulators, central banks and supervisors,
December, 2019
alongside an analytical effort that is presented in two parts: A Map of Financial
Regulations and Industry Practices in Latin America; and an Analysis of International
Practices in Using Supervisory and Regulatory Instruments, considering their
replication potential in LAC.
World Bank Group,
Financing Climate Futures: Rethinking Infrastructure
Organisation for Economic Co
-operation and Development https://bit.ly/2QmOHmW
(OECD) and UN Environment
The report explores six key transformative areas that will be critical to align
Douglas Herrick, Kate Kooka,
et.al. financial flows with low-emission and resilient societies (planning, innovation,
October, 2019 public budgeting, financial systems, development finance, and cities) and looks at
how rapid socio-economic and technological developments, such as digitalization,
can open new pathways to low-emission, resilient futures.
Macroeconomic and Financial Policies for Climate Change Mitigation:
International Monetary Fund
(IMF) A Review of the Literature
Signe Krogstrup and
https://bit.ly/35uIIAX
William Oman
September, 2019 The question of the most effective policy mix for climate change mitigation remains
relatively unexplored and is complex given the substantial uncertainties in this
topic. It requires an understanding of policy objectives trade-offs and interactions,
as well as political economy considerations. This literature review focuses on the
roles that macroeconomic and financial policies can play in climate change
mitigation, provides a menu of relevant macroeconomic and financial policy tools
and instruments, and highlights the complexity of the policy challenge and the need
for coordination of different policy areas for achieving mitigation efficiently and
effectively.
asbasupervision.com
8Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Long-Term Macroeconomic Effects of Climate Change:
A Cross-Country Analysis
International Monetary Fund
(IMF)
https://bit.ly/2ZTssZ7
Matthew E. Kahn, Kamiar
Mohaddes, Ryan N. C. Ng, M. This document studies the long-term impact of climate change on economic activity
Hashem Pesaran, Mehdi Raissi across countries, using a stochastic growth model where labor productivity is
and Jui-Chung Yang
affected by country-specific climate variables—defined as deviations of temperature
October, 2019
and precipitation from their historical norms.
Regtech and Suptech. Technology for Authorities
Bank for International
The Use of Big Data Analytics and Artificial Intelligence in
Settlements (BIS) Central Banking
Okiriza Wibisono, Hidayah
Dhini Ari, Anggraini https://bit.ly/2FrQpwZ
Widjanarti, Alvin Andhika
Zulen and Bruno Tissot The analysis cover three main aspects: (i) an assessment of the main big data
October, 2019 sources and associated analytical techniques that are relevant for central banks; (ii)
the insights provided by big data for economic policy, with an overview of concrete
central bank projects aiming at improving statistical information, macroeconomic
analysis and forecasting, financial market monitoring and financial risk assessment;
and (iii) the use of big data in crafting central bank policies, including
organisational aspects and related challenges.
Financial Stability Institute The Suptech Generations
(FSI)
Simone di Castri, Stefan Hohl,
https://bit.ly/2Fsb30e
Arend Kulenkampff and Jermy
Prenio Financial authorities' use of technology has evolved over the years, leading to
October, 2019
different generations of technology that culminate in what the paper considers as
suptech. Suptech refers to the application of big data or artificial intelligence (AI)
to tools used by financial authorities. This paper examines these developments by
analyzing suptech initiatives in 39 financial authorities globally.
asbasupervision.com
9Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Regulation and Supervision of FinTech
Regulating Alternative Finance: Results From A Global Regulatory
Survey
World Bank Group and
University of Cambridge https://bit.ly/35yzIed
2019
This report details the key findings from a global regulatory survey that was jointly
conducted by the World Bank and the University of Cambridge Judge Business
School. The study comprehensively and comparatively analyze how regulators from
both developing and developed economies are regulating and supervising online
alternative finance activities. The report focuses on peer-to-peer lending, equity
crowdfunding and initial coin offerings, which constitute a rapidly growing segment
of fintech for meeting credit, savings and investment needs. Survey findings
informing this report are based on responses from regulators in 111 jurisdictions
across the world.
Bank for International
Embedded Supervision: How to Build Regulation into Blockchain
Settlements (BIS) Finance
Raphael Auer
September, 2019 https://bit.ly/2QTFsJQ
The spread of distributed ledger technology (DLT) in finance could help to improve
the efficiency and quality of supervision. This paper makes the case for embedded
supervision, i.e. a regulatory framework that provides for compliance in tokenised
markets to be automatically monitored by reading the market’s ledger, thus
reducing the need for firms to actively collect, verify and deliver data. After
sketching out a design for such schemes, the paper explores the conditions under
which distributed ledger data might be used to monitor compliance.
asbasupervision.com
10Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Cyber Risks and Data
Cybersecurity Risk Supervision
https://bit.ly/2tvC7ZN
International Monetary Fund This paper highlights the emerging supervisory practices that contribute to
(IMF)
effective cybersecurity risk supervision, with an emphasis on how these practices
Tamas Gaidosch, Frank
Adelmann, Anastasiia
can be adopted by those agencies that are at an early stage of developing a
Morozova, Christopher Wilson supervisory approach to strengthen cyber resilience. Financial sector supervisory
September, 2019 authorities the world over, are working to establish and implement a framework for
cyber risk supervision. Cyber risk often stems from malicious intent, and a
successful cyber attack—unlike most other sources of risk—can shut down a
supervised firm immediately and lead to systemwide disruptions and failures.
Financial Stability Institute Varying Shades of Red: How Red Team Testing Frameworks Can
(FSI) Enhance the Cyber Resilience of Financial Institutions
Raymond Kleijmeer, Jermy
Prenio and Jeffery Yong https://bit.ly/2QWRJ0u
November, 2019
This paper aims to facilitate deeper understanding by financial sector authorities
on different existing approaches that authorities have pursued in establishing red
team testing frameworks. The paper is based on information provided by eight
financial authorities and selected private sector players. It describes key
components of a red team testing framework, compares existing frameworks,
outlines the benefits and challenges of such frameworks, and highlights potential
crossborder issues relating to red team testing.
Cyber-Risk Oversight Handbook for Corporate Boards
Organization of American
States (OAS) https://bit.ly/2ZXinug
2019
The Organization of American States (OAS) and the Internet Security Alliance (ISA)
made modifications to the Manual of Cyber Risk Supervision for Corporate Boards
(presented in 2014) in order to adapt it to the reality and unique needs of the
region of Latin America and the Caribbean. This document includes good practices
and lessons learned from corporate boards, academia, government and senior
management in the región, in order to improve and help organizations protect
themselves from cyber threats and provide better information protection.
asbasupervision.com
11Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Financial Inclusion and Consumer Protection
Core Competencies Framework on Financial Literacy for Investors
International Organization of https://bit.ly/39IIb1B
Securities Commissions
(IOSCO) and Organisation for This Framework is aimed at providing jurisdictions with an important tool to
Economic Co-operation and support the development and implementation of investor education initiatives. The
Development (OECD)
Framework could also provide guidance on areas that should be covered in investor
September, 2019 education, help guide the content of investor education initiatives, and indicate
areas to be assessed as part of an evaluation strategy.
Smarter Financial Education: Key Lessons from Behavioural Insights
for Financial Literacy Initiatives
Organisation for Economic https://bit.ly/2QsDoJV
Cooperation and
Development (OECD) This document gives a short overview of the ways in which behavioral insights are
September, 2019 relevant for financial education (FE) and summarizes five key lessons that policy
makers can follow: (i) financial educational content focused, straightforward and
simple to understand; (ii) more customized FE programs; (iii) design programs that
help people take actions; (iv) consider using digital channels to facilitate the
application of behavioral insights, and (v) application of existing behavioral
frameworks to design behaviorally informed programs.
Good Practice Guide on Consumer Data
https://bit.ly/2T15Q7p
Organisation for Economic This paper aims to complement the OECD Recommendation on Consumer Protection
Cooperation and in E-Commerce and discuss consumer policy issues associated with consumer data
Development (OECD) practices, offering greater insights into how consumer protection authorities can
September, 2019 and have applied the principles in the Recommendation to address those issues.
The guide focuses on selected consumer data practices including: (i) deceptive
representations about consumer data practices; (ii) misrepresentations by
omission; and (iii) unfair consumer data practices. It then provides key business tips
to comply with consumer protection principles under the E-commerce
Recommendation.
asbasupervision.com
12Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Regulation information, third and fourth quarter of 2019
We requested information on prudential and non-prudential financial regulation issued by
member institutions of ASBA in the third and fourth quarter of the year. We include a brief
summary of these regulations and the link to the documentation, if it is of public nature.
This compilation is an effort to expand communication and understanding among the
countries of the Americas on approaches used to address various issues that are of joint
interest in financial regulation.
Banco Central de Argentina, Argentina
1. Efectivo Mínimo (From July 1 to December 15, 2019)
Las normas sobre “Efectivo mínimo” tienen como objetivo regular la liquidez de las entidades fi-
nancieras. En ese sentido, establecen una exigencia de encaje para los depósitos y otras obligacio-
nes por intermediación financiera de las mismas.
More information: https://bit.ly/2sIqkr3
2. “Posición global neta de moneda extranjera” (From July 1 to December 15, 2019)
Con el objeto de reducir la exposición al riesgo de tipo de cambio, se establecen límites a los
riesgos de descalce de la posición neta (positiva y negativa) de moneda extranjera de las entidades
financieras.
More information: https://bit.ly/2QrT4Nu
3. “Distribución de resultados” (From July 1 to December 15, 2019)
Las normas sobre "Distribución de resultados" prevén la metodología que deben aplicar los
intermediarios financieros para distribuir sus resultados para que no se vea afectada su liquidez y
solvencia.
More information: https://bit.ly/2rXUzJW
4. “Política de crédito” (From July 1 to December 15, 2019)
Las normas sobre “Política de crédito” tienen como objetivo regular la operatoria crediticia de las
entidades financieras, la cual deberá estar orientada a financiar la inversión, la producción, la
comercialización, el consumo de los bienes y servicios requeridos tanto por la demanda interna
como por la exportación del país o las inversiones directas en el exterior realizadas por empresas
residentes en el país.
More information: https://bit.ly/2FmaG7n
5. NIIF (IFRS) (From July 1 to December 15, 2019)
A partir de los ejercicios iniciados el 1.1.18, las entidades comenzaron a registrar sus operaciones y
variaciones patrimoniales y elaborar sus estados financieros de acuerdo con la NIIF, con la única
excepción transitoria del punto 5.5 "Deterioro de Valor" de la NIIF Nº 9 "Instrumentos Financieros",
el cual comenzará a regir a partir del 20/01/20.
More information: https://bit.ly/2Qs04tW
asbasupervision.com
13Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Regulation information, third and fourth quarter of 2019
Central Bank of Barbados, Barbados
No financial regulations were issued during the third and fourth quarter of 2019.
Banco Central Do Brasil, Brazil
1. Resolución n°4.749 (Issued on 29/8/2019)
Modifica la Resolución No. 4,733 del 27 de junio de 2019, que establece las condiciones de emisión
de Facturas Financieras por parte de las instituciones financieras que especifica.
More Information: https://bit.ly/2ZWSVoy
2. Resoluçión n°4.748 (Issued on 29/8/2019)
Establece los criterios para la medición del valor razonable de los activos e ingresos por parte de
las instituciones financieras y otras instituciones autorizadas para operar por el Banco Central de
Brasil.
More Information: https://bit.ly/2FvFpP7
3. Resolución n°4.765 (Issued on 27/11/2019)
Establece y aclara el sobregiro otorgado por las instituciones financieras a la cuenta de depósitos a
la vista mantenida por personas físicas y microempresarios individuales (MEI).
More Information: https://bit.ly/2tBk5oI
4. Resolución n°4.753 (Issued on 26/9/2019)
Provee normativa para abrir, mantener y cerrar cuentas de depósito.
More Information: https://bit.ly/35vxJXK
5. Resolución n° 4.752 (Issued on 26/9/2019)
Modifica la Resolución No. 4,658 del 26 de abril de 2018, que establece la política de
ciberseguridad y los requisitos para contratar el procesamiento y almacenamiento de datos y los
servicios de computación en la nube que deben cumplir las instituciones financieras y otras
instituciones autorizadas para operar por el Banco Central de Brasil.
More Information: https://bit.ly/37HuK04
Document
Financial Stability Report
The Financial Stability Report (FSR) is a semiannual publication issued by the Banco Central do Bra-
sil (BCB) that presents an overview of recent developments and the outlook on financial stability in
Brazil, focusing on the main risks and on the domestic financial system resilience, as well as con-
veys the Financial Stability Committee (Comef) view on the policy and measures to preserve finan-
cial stability. The current edition covers the first half of 2019, highlighting more recent events
when relevant.
More Information: https://bit.ly/2N5qr6E
asbasupervision.com
14Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Regulation information, third and fourth quarter of 2019
Comisión Nacional Bancaria y de Valores, Mexico
1. Resolución que modifica las Disposiciones de carácter general aplicables a las instituciones de
crédito (Issued on 25/11/19)
Se modifican las Reglas de carácter general con el propósito de que las instituciones de crédito
puedan celebrar contratos de comisión mercantil con instituciones de asistencia privada y
sociedades o asociaciones que otorguen préstamos con garantía prendaria que pertenezcan a su
mismo consorcio o grupo empresarial, incluyendo las denominadas comúnmente "casas de empeño".
More information: https://bit.ly/2MXKEez
2. Resolución modificatoria de la Resolución que modifica las disposiciones de carácter general que
establecen los criterios de contabilidad a los que se sujetarán los participantes del mercado de
contratos de derivados (Issued on 4/11/19)
Se extiende la entrada en vigor de la incorporación de ciertas Normas de Información Financiera
emitidas por el Consejo Mexicano de Normas de Información Financiera, A.C., a las normas
contables que resulten aplicables a las cámaras de compensación y socios liquidadores que
participen en los mercados de contratos de derivados cotizados en bolsa, a fin de que estén en
posibilidad de ajustar sus sistemas de información contable.
More information: https://bit.ly/39GCcdA
3. Resolución modificatoria de la Resolución que modifica las disposiciones de carácter general
aplicables a las actividades de las sociedades cooperativas de ahorro y préstamo, publicada el 23
de enero de 2018. (Issued on 4/11/19)
Se extiende la entrada en vigor de la incorporación de ciertas Normas de Información Financiera
emitidas por el Consejo Mexicano de Normas de Información Financiera, A.C., a las normas
aplicables a la elaboración de la contabilidad de las sociedades cooperativas de ahorro y préstamo
con nivel de operaciones I a IV, a fin de que estén en posibilidad de ajustar sus sistemas de
información contable.
More information: https://bit.ly/2FsovkF
4. Resolución modificatoria de la Resolución que modifica las disposiciones de carácter general
aplicables a los almacenes generales de depósito, casas de cambio, uniones de crédito y sociedades
financieras de objeto múltiple reguladas, publicada el 23 de enero de 2018 (Issued on 4/11/19)
Se extiende la entrada en vigor de la aplicación de Normas de Información Financiera emitidas por
el Consejo Mexicano de Normas de Información Financiera, A.C., a las normas aplicables a la
elaboración de la contabilidad de los almacenes generales de depósito, casas de cambio,
sociedades financieras de objeto múltiple reguladas y uniones de crédito, a fin de que estén en
posibilidad de ajustar sus sistemas de información contable.
More information: https://bit.ly/2FqL35b
Comisión Nacional para la Protección y Defensa de los Usuarios de los Servicios
Financieros (CONDUSEF), Mexico
No financial regulations were issued during the third and fourth quarter of 2019.
asbasupervision.com
15Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Regulation information, third and fourth quarter of 2019
Superintendencia de Bancos, Ecuador
1. Resolución 544-2019-F. “Título II, Capítulo L, del Libro I de la Codificación expedida por la Junta
de Política y Regulación Monetaria y Financiera” (Issued on 30/10/19)
Programa de crédito para las entidades del sector financiero público.
More information: https://bit.ly/2ZYQth8
2. Resolución 533-2019-F. “Subsección III, Sección II, Título I, Capítulo XI, del Libro I de la
Codificación expedida por la Junta de Política y Regulación Monetaria y Financiera”
(Issued on 04/24/19)
Sistema de Tasas de Interés y Tarifas del Banco Central del Ecuador en lo relativo a tasas de interés
para operaciones activas y pasivas.
More information: https://bit.ly/2FwPtaA
3. Resolución SB-2019-1010. “Normas de control para determinar el costo que genera la entrega de
información electrónica” (Issued on 25/10/19)
Contar con una normativa actualizada y acorde a las disposiciones legales vigentes, para determi-
nar el costo que genera la entrega de información electrónica.
More information: https://bit.ly/39PkyEn
Superintendencia de Bancos, Guatemala
1. Oficio Circular No. 8174-2019 (Issued on 29/08/19)
Se amplían los plazos para el programa de implementación del nuevo marco contable de conformi-
dad con Normas Internacionales de Información Financiera -NIIF- indicado en el Oficio Circular
No.3786-2019; se requiere nombrar a un coordinador responsable del proceso de implementación y
se solicita reportes de avances.
Document
La Gestión del Riesgo de Mercado como una Herramienta Gerencial en la Banca
Autor: Edgar René Guevara Recinos
Este documento describe las fuentes de riesgo de mercado mencionadas por el Comité de Basilea y
describe algunos métodos relacionados con la medición de los riesgos asociados.
More information: https://bit.ly/35vRZIQ
asbasupervision.com
16Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Regulation information, third and fourth quarter of 2019
Bank of Guyana, Guyana
1. Supervision Guideline 12: Money Transfer Agencies (MTAs) and Cambios
This Guideline is issued in accordance with section 22 (2) (b) of the Anti-Money Laundering and
Countering the Financing of Terrorism (AML/CFT) Act 2009. The Guideline provides guidance on
what is required to implement an adequate AML/CFT compliance risk-based framework within each
money transfer agency (MTA).
More information: https://bit.ly/2undGhj
2. Supervision Guideline 14: Capital Adequacy Framework
This guideline provides a framework for the constituents of capital in line with the Basel II/III
Minimum Capital Requirements on credit, market and operational risks, by outlining the
characteristics that an instrument must have in order to qualify and the adjustments to be made in
determining the regulatory capital of all licensees.
More information: https://bit.ly/35vRLBu
Superintendencia de Bancos de Panamá, Panama
1. Acuerdo 7-2019.“Supervisión de nuevos sujetos obligados para prevenir el blanqueo de capitales,
financiamiento al terrorismo y financiamiento de la proliferación de armas de destrucción
masiva” (Issued on 02/07/19)
Respecto a las medidas para prevenir el blanqueo de capitales, financiamiento al terrorismo y
financiamiento de la proliferación de armas de destrucción masiva, corresponde a la
Superintendencia de Bancos regular y supervisar a nuevos sujetos obligados: empresas financieras;
empresas de arrendamiento financiero; empresas de factoraje; emisores o procesadores de tarjetas
de débito, crédito y pre-pagadas; entidades emisoras de medios de pago y dinero electrónico; ser-
vicios corporativos realizados por empresas fiduciarias; sociedades de ahorros y préstamos para la
vivienda; Banco de Desarrollo Agropecuario; Banco Hipotecario Nacional.
More information: https://bit.ly/2QrtecD
2. Acuerdo 8-2019.“Gobierno Corporativo” (Issued on 12/08/19)
Actualización de disposiciones sobre Gobierno Corporativo: bancos deberán designar como mínimo
un treinta por ciento de mujeres en la totalidad de los cargos de directores de Junta Directiva.
More information: https://bit.ly/2N0tkWu
3. Acuerdo 9-2019.“Normas Técnicas de Contabilidad” (Issued on 24/10/19)
Se establece que las normas técnicas de contabilidad serán exclusivamente las Normas
Internacionales de Información Financiera (NIIF) emitidas por el Consejo de Normas Internacionales
de Contabilidad (IASB por sus siglas en inglés) para los bancos establecidos en Panamá.
More information: https://bit.ly/35tcc1V
asbasupervision.com
17Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Regulation information, third and fourth quarter of 2019
Superintendencia de Bancos de Panamá, Panama
4. Acuerdo 10-2019.“Límites de Concentración de Riesgos a Grupos Económicos y Partes
Relacionadas” (Issued on 24/10/19)
Se establecen normas para límites de Concentración de Riesgos a Grupos Económicos y Partes
Relacionadas.
More information: https://bit.ly/2sRQo2P
5. Acuerdo 11-2019.“Riesgo de Crédito” (Issued on 01/10/19)
Se establecen disposiciones sobre la gestión y administración del riesgo de crédito para préstamos
hipotecarios de vivienda y los préstamos de consumo con garantías inmuebles y préstamos
corporativos con garantías inmuebles.
More information: https://bit.ly/35wJqxo
6. Acuerdo 12-2019.“Inversiones en valores” (Issued on 15/10/19)
Disposiciones sobre las inversiones en valores para bancos oficiales, bancos de licencia general y
bancos de licencia internacional.
More information: https://bit.ly/2SYFJhB
7. Acuerdo 13-2019.“Tarifas Servicios Especiales” (Issued on 19/11/19)
Actualización de las tarifas de cobros por servicios especiales a fiduciarias.
More information: https://bit.ly/36x8CW6
Superintendencia de Banca, Seguros y AFP, Peru
1. Decreto de Urgencia N°13-2019. “Control Previo de Operaciones de Concentración
Empresarial” (Issued on 18/11/19)
Establece un régimen de control previo de operaciones de concentración empresarial con la
finalidad de promover la eficiencia económica en los mercados para el bienestar de los
consumidores.
More information: https://bit.ly/2Qt8fWF
2. Resolución SBS N° 4838-2019. “Hipoteca Inversa” (Issued on 17/10/19)
Se emite Reglamento de la Hipoteca Inversa.
More Information: https://bit.ly/37MUgkF
3. Resolución SBS N° 5570-2019. Se modifican diversos artículos del Reglamento de Tarjetas de
Crédito y Débito.
Adecuar el marco normativo vigente del uso de las tarjetas de crédito y débito al
entorno de innovación tecnológica: se reconoce a las tarjetas como instrumentos de pago que
pueden tener soporte físico o representación electrónica o digital; se reconoce que para las líneas
paralelas como financiamientos adicionales se debe entregar la información al usuario y separada
de la información de la tarjeta de crédito; empresas deben ofrecer activación de servicios de
notificaciones y se reconocen supuestos de responsabilidad de empresas sobre operaciones no
reconocidas.
More information: https://bit.ly/2QSlNtP
asbasupervision.com
18Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Regulation information, third and fourth quarter of 2019
Superintendencia de Banca, Seguros y AFP, Perú
4. Resolución SBS N° 5646-2019. “Seguro de Depósitos Cooperativo” (Issued on 29/11/19)
Se emite el Reglamento del Fondo de Seguro de Depósitos Cooperativo, que establece la regulación
del funcionamiento y operaciones del Fondo de Seguro de Depósitos Cooperativo (FSDC), al cual es
obligatoria su afiliación para aquellas Cooperativas de Ahorro y Crédito no autorizadas a captar
recursos del público (Coopac) que capten depósitos de sus socios.
More information: https://bit.ly/37KneBF
Banco Central del Uruguay, Uruguay
1. Proyecto Normativo. “Adecuación de requerimientos de capital por riesgo operacional”.
(Issued on 8/13/2019)
Proyecto normativo que sustituye el Indicador Básico (basado en los Resultados Brutos) por el
Indicador del Negocio y se incorpora un requerimiento de información anual sobre el requerimiento
de capital por riesgo operacional en base individual y consolidada.
More information: https://bit.ly/2QuRkDp
2. Proyecto Normativo. “Registro de operaciones Over The Counter. (Issued on 8/21/2019)
Proyecto normativo que introduce la obligatoriedad para los Intermediarios de Valores e Inversores
Especializados de reportar las operaciones extrabursátiles que realicen, a una entidad autorizada a
tales efectos, para su registro y divulgación.
More information: https://bit.ly/39JDtRc
3. Propuesta de Reglamentación. “Reglamentación de los Registros que deben mantener los Inter-
mediarios de Valores, Asesores de Inversión, Gestores de Portafolios e Instituciones de Intermedia-
ción Financiera que realicen intermediación en valores, asesoramiento en inversiones o gestión de
portafolios” (Issued on 10/4/2019)
El proyecto contempla los nuevos registros incorporados en la Recopilación de Normas del Mercado
de Valores (RNMV) y en la Recopilación de Normas de Regulación y Control del Sistema Financiero
(RNRCSF) para aseosramientos y referenciamientos realizados; instrucciones cursadas a
intermediarios de valores; certificados de legitimación emitidos a solicitud de clientes y valores
inscriptos por el intermediario de valores/institución en los registros de las entidades registradas.
More information: https://bit.ly/35pWpRH and https://bit.ly/2rZKMDb
4. Proyecto Normativo. “Tercerizaciones de servicios” (Issued on 10/7/2019)
Proyecto Normativo que introduce modificaciones en el régimen de autorizaciones para la
tercerización de servicios.
More information: https://bit.ly/2tEFoWr
asbasupervision.com
19Banking Regulation Market Outlooks Research and Contributions ASBA
and Supervision and Reviews Analysis and News Events
Institutional Events
XCIII Session of the Board of Directors
January 30 - 31, 2020.
Mexico City, Mexico.
Workshop Meeting
How to build a curriculum for banks’ supervisors in the region
February 10 - 12, 2020.
Miami, Florida.
Courses
Bank Analysis and Examination School
March 23 - 27, 2020.
Lima, Peru.
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